After the bank expected the first reduction by the Reserve Bank of Australia to be next November, it postponed this reduction even further.
ANZ Bank is one of the four largest banks in Australia.
Like many other analysts, the bank had expected an interest rate cut in late 2024, but persistent high inflation has now pushed it from November this year to February next year, then another cut in April 2025, and then another one in the fourth quarter of 2025, bringing the interest rate to 3.6%.
Which means 3 interest rate cuts in 2025.
The forecasts of the other 3 largest banks in Australia were as follows:
CBA:
The first reduction in November, and 4 more cuts in 2025, bringing the interest rate to 3.1%.
WPAC:
The first reduction in November, and 4 more cuts in 2025, bringing the interest rate to 3.1%.
NAB:
The first reduction in November, and 4 more cuts in 2025, bringing the interest rate to 3.1%.
